1. Click in the text box until you get a blinking cursor
2. Select View>Toolbars>Properties Bar (or Keyboard shortcut command+e (mac) or Control + e (PC)) to open the properties menu bar.
3. Type your desired text in the box change the font using the drop down menu.

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To Edit in ADOBE XI (the latest version)
1. Click in the text box until you get a blinking cursor
2. Go to: VIEW>SHOW/HIDE>TOOLBAR ITEMS>TOOLBARS>
PROPERTIES BAR or use the keyboard shortcut COMMAND+e (mac) or CONTROL+e (PC)) top open the properties menu bar
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RESIZE FONT
To resize the font open the properties bar select the size from the drop down menu or type in your desired size to customize.

CENTERING TEXT IN THE LABEL
To center your text in the label/tag Command+e (mac) or Control + e (PC) to open the PROPERTIES MENU select the MORE button. Select the PARAGRAPH button. You can adjust the alignment of your text by selecting the alignment buttons.

To really fine tune your text (...and drive yourself a little nuts) you can type both positive and negative numbers in the spacing boxes (from the PROPERTIES menu select: MORE / PARAGRAPH tab / SPACING (above and below) to move your font up or down.